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Book: Seeking Wisdom

  • Beliefs can have biological consequences

    • Placebos produce physical changes in the brain
    • Thus life experiences can affect biology itself
  • Scarcity produces hierarchy

  • One reason for bad judgement is that we don’t see the consequences of our actions

  • Learn to see the incentives in any system and not the individual

  • The more bidders there are in an auction and the more the uncertainty of the value of the item being auctioned, the more likely that the winner has overvalued the item

  • Large effects need not have large causes

Pareto, Trust, Interactions, Pain, Pleasure-Pain, Blame-Praise, Fear, React-Respond, Self Persuation, Charlie Munger, Sour Grapes, Relative Thinking, Human Information Processing, Survivorship Bias, Human Reciprocation, Incentive System, Nth Order Effects, Critical Threshold,